Oil pickup adjustment

Hello all,
I bought a 340 last year and am finally ready to install it.
I took off the oil pan and see that the oil pick up easily rotates. The motor is a pretty hopped up one with a lot of after market parts like the deep Milodon oil pan and much more.
Should the pick up just rotate when I grab it? I'm thinking no, and it should be snug and adjusted to some height but not sure since its after market.
The pic shows the pickup after I moved it to that position.

20191005_165044.jpg